550 axed at oldest shipbuilders

All 550 workers at Britain's oldest firm of commercial shipbuilders have been made redundant.

Receivers will go into the 148-year-old Appledore Shipbuilders complex in north Devon to wind up the business.

But union convener at the yard Roy Harkness said he believed "there is a silver lining".

"We are hoping that from the ashes should be resurrected a good, profitable business," he said.

The receivers, Tenon Recovery, spent the day in meetings with the union representatives and the workforce.

Mr Harkness said: "We had to tell every man and woman at the yard they have been made redundant.

"The yard has closed down. No prospective buyer is going to take on a company so heavily in debt," he said.

"The redundancy notices have been sent by first class post and will be dropping through their letterboxes."

He said the receivers would have every assistance from the workforce when they entered the yard in the morning.

The old management regime had gone, said Mr Harkness, adding: "Hopefully, working with the unions and a future owner, we shall have good prospects."

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